Life insurance is absolutely crucial to obtain by individuals starting as early as twenty something years old. The benefits that life insurance can provide you with are outstanding. Many individuals obtain life insurance services through their employers. There is a very common question that clients as our agents at ARG and Associates, which is if they need an additional policy. Continue reading this blog post to find out our answer.
Do I Need Another Policy?
You work at a great job that offers different benefit packages for their employees. Let’s say your work benefits come with life insurance. There are some pros and cons about obtaining this through your work that you need to know about. This is known as a “group enrollment” plan, in which the members of your workplace are on the same type of plan as you. Normally, all would qualify for this type of insurance plan, as there is no testing needed to obtain it. This is great for those employees that have some minor to serious health issues, such as diabetes, high blood pressure, heart attacks, strokes, etc. This may be slightly problematic or much more expensive through a private insurance due to your health problems.
Next, the price is right when you obtain this through your work. Depending on your employer, it may be free for you or deducted from your monthly paycheck. This could help you save more money to spend on other important insurance services. The convenience of obtaining medical insurances through work is key. This is why it is often rewarding if your employer provides you with these benefits to start.
On the other hand, there are some cons to obtaining life insurance via workplace. The first is that you are taking a risk, and your work status could unfortunately change at any given moment. Let’s say you get laid off from work or fired. This means that your benefits packages are taken away, including life insurance. You will no longer be covered by your employer, and left without any protection. You are always going to be taking this risk if you join a benefits plan from work.
With a private insurance company such as ARG and Associates, you have the option to buy multiple coverages that best suit your medical needs. With getting life insurance from work, you are oftentimes limited to what will be covered. Therefore, it makes more sense to purchase it through ARG and Associates, so you know that if something were to happen to you, your loved ones would be protected at all times.
It is very important to take these pros and cons into consideration before taking on insurance from your workplace. If you go through a private insurance agency, you will have more leverage and more coverage options. Give ARG and Associates a call today for a free consultation on life insurance!